Online and mobile banking: your rights when something goes wrong
"Nationwide customers were left without access to some banking services twice last week due to IT failures. Online and mobile banking was unavailable for several hours and angry customers took to social media sites to vent their frustrations. But Nationwide isn't the only provider to have been plagued by technical faults. Last year thousands of RBS customers were completely cut off from their bank accounts for several days."
Two million Kiwis now using online banking
"More than two million New Zealanders now use internet banking, an increase of nearly 18% over the past four years. Approximately 2.05 million Kiwis use online banking, up from 1.74 million in 2009, according to data released by Statistics New Zealand. While younger generations are the most likely to transact online, internet banking is popular among all age groups."
Africa: Nigeria Stumbles After Kenya
"More people in Africa use their mobile phone to bank than in any other region in the world. The continent's banking revolution began in March 2007 when Kenyan telecoms operator Safaricom launched M-Pesa, a service that allows users to send, receive and save money using a cellphone. Since then M-Pesa has spread to Rwanda, South Africa, Tanzania and Uganda. Mobile banking now exists in 33 African countries, according to GSMA, a trade association."
Fear and loathing of m-banking
"There was nothing unusual about that morning, until on my way to work that group walking on the road caught my eye. I had seen them many times before but probably not noticed them this way. Whether on foot or cramped together in a vehicle, they prefer travelling in groups every morning to their respective workplaces. They carry their lunches in cloth potlis or plastic thailis and come from villages and hometowns far away to earn livelihood. And they can, perhaps, be clustered into one defined group - they are a part of India’s significant migrant population, of which many are also unbanked."
Subscribers warm up to new cellphone banking application
"Six months ago, Jane Adhiambo Achieng walked into a local Kenyan bank with the hope of getting a loan for her small grocery business. After providing all the paperwork and after weeks of back and forth between her and bank officials, she was turned down. 'They just told me I don't qualify. My income was too little,' said 42-year-old Achieng, who was asking for some $250, about half her monthly turnover, to expand her fruit and vegetable stall in the Kenyan capital. But in early March, she applied for the same amount through a different source and got the money in a matter of minutes."
Citibank Bahrain steps up online security...
"The bank said 'dynamic multi-factor authentication' on online and mobile banking platforms comes in the form of one-time pins (OTP). Being offered through the bank's Internet banking (Citibank online-CBOL) and mobile banking (Citi Mobile) facility - the new one-time pin service sends a unique number to customers in the form of a mobile text message every time they log on to CBOL and Citi Mobile. Clients can perform multiple transactions within each Internet session."
Mobile Banking For The Unbanked
"In sub-Sahara Africa, more than 80% of people have no access to traditional financial services. This has been one of the great challenges in fighting poverty in South Africa. Given the lack of developed infrastructure in many parts of Africa, how is it possible to provide millions of unbanked people with basic banking services? Standard Bank of South Africa has found the answer! Standard Bank discovered that one of the biggest impediments to opening a new account for many of these people was their lack of ability to provide proof of residence. However, at the same time, Standard Bank also found that a large percentage of unbanked people had access to mobile phones!"